Creating Stock Items (Raw Materials)

You can also create stock items for raw materials with excise applicable.

To create the stock item

1.    Go to Gateway of Tally > Stock Items > Create.

2.    In Name field enter the stock item Name. For example, Bottom Plate-12Ltr.

3.    Group the Stock item Under the Stock Group RM - Cooker (if Stock group is not created use Alt + C from Under field to create the stock group).

4.    In Units field select the applicable unit of measurement. For example, Nos.

5.    Set the option Enable Cost Tracking to No.

The completed Stock Item Creation screen appears as shown:

6.    Press Enter to save.

Similarly create the below Raw Materials as per the details:

Raw Materials - If Excise Applicable

To create the stock item

1.    Go to Gateway of Tally > Inventory Info. > Stock Items > Create.

2.    Enter the Stock Item Name, Group, Unit, Tariff Classification and enable Set/Alter Excise Details to Yes.

3.    In Excise Details screen select Reporting UOM, enable Set/Alter Duty Details to select the duties applicable for the stock item and select the Stock Item Type- Principal Inputs.

4.    Press Enter to save.

Similarly, create all the Raw Materials if Excise is applicable.